Company Promotes Executive Bench in Parallel with Acquisition by White Oak Global Advisors
NEW YORK – Capital Business Credit (CBC) (the “Company”), a supply chain finance company specializing in providing factoring, asset-based loans and trade finance solutions, announced today the appointments of Robert Grbic to President and Chief Executive Officer and Michael Fortino to Chief Operating Officer, in addition to his current role as Chief Financial Officer, effective immediately. The announcement comes shortly after the acquisition of Capital Business Credit by White Oak Global Advisors, LLC, a leading global alternative asset manager specializing in originating and providing financing solutions to facilitate the growth, refinancing and recapitalization of small and medium enterprises.
“This is an exciting time at CBC. For nearly 30 years, CBC has focused on serving small and middle-market companies, and now under the White Oak umbrella, we have the wherewithal to fund larger transactions and expand our product-reach nation-wide,” said Andrew Tananbaum, Executive Chairman, CBC. “With our strong management team in place, CBC has the opportunity to accelerate our growth by providing companies with financial solutions that traditional banks aren’t able to offer.”
Mr. Grbic previously CBC’s Chief Credit Officer and Chief Operation Officer, succeeds Andrew Tananbaum, CBC’s Executive Chairman, who served as the interim CEO. Mr. Grbic has more than 35 years of commercial lending experience, and has been with CBC since 2005. In his previous roles, he oversaw the Company’s operations, expanding its client portfolio and managed credit decisions to maintain CBC’s leadership position in providing financing facilities to small- and medium-sized businesses across the U.S.
Prior to joining CBC, Mr. Grbic was Managing Director at Morris Anderson & Associates LTD, a turnaround consulting firm. He also co-founded MetSource Capital, LLC, a restructuring and corporate finance firm specializing in working with small- and medium-sized companies. In addition, he served as an Executive Vice President at GMAC Commercial Credit, LLC and BNY Financial Corp.
Mr. Grbic is a member of the New York Society of Financial Analysts and the Association for Investment Management and Research. He has served as an instructor for the Finance, Tax and Law Department at the NYU School of Continuing Education. He holds master’s and bachelor’s degrees in Business Administration from Pace University.
Mr. Grbic added, “I look forward to working with the White Oak team, Andrew Tananbaum and the other executives at Capital Business Credit to support the Company’s growth and provide much-needed financing to a critical sector of the U.S. economy.”
Mr. Fortino, in addition to his new role as Chief Operating Officer, will continue to serve as the Company’s Chief Financial Officer, a position he has held since 2011. Previously, Mr. Fortino served as CBC’s General Manager, overseeing the finance and IT departments, and has been with the Company since 2006.
Before joining CBC, Mr. Fortino was Chief Financial Officer at Levenger Co., a multi-channel retailer of high-end writing instruments and organizational products. He holds master’s and bachelor’s degrees in Business Administration from Temple University.
“I’m eager to assume my new role at Capital Business Credit and to have a direct impact on advancing the Company’s mission of helping companies reach their growth potential through the access to growth and working capital,” said Mr. Fortino. “With the expansion of our lending capabilities afforded by the recent White Oak acquisition, we are excited for what 2017 holds for CBC and its clients.”
About Capital Business Credit
Established in 1988, Capital Business Credit LLC is a global financial products and services company. The Company’s solutions include: full-service factoring; accounts receivable management services; inventory lending; asset-based lending; and international financing. CBC Trade Finance, a division of CBC, provides trade finance solutions for U.S.-based importers working with Asia-based suppliers (exporters). Capital Business Credit is based in New York, with offices in Hong Kong; Shanghai, Los Angeles; Charlotte, NC; and Ft. Lauderdale, Fla.
Capital Business Credit is now known as White Oak Commercial Finance.